Bitcoin rises past $80,000, breaking ‘major’ psychological resistance zone
The Block
Bitcoin surpassed $80,000 amid a broader market rally and sustained ETF inflows, despite geopolitical tensions involving the U.S. and Iran.Summary
Bitcoin climbed above $80,000, signaling bullish momentum and breaking a key psychological resistance level. Analysts attribute the surge to a technical short squeeze and strong market confidence. The rally coincides with ongoing U.S.-Iran geopolitical tensions, specifically involving the Strait of Hormuz and Donald Trump's 'Project Freedom' initiative. Additionally, U.S. spot bitcoin ETFs recorded their fifth consecutive week of inflows, underscoring persistent institutional support for the digital asset.
(Source：The Block)